Tesla: Wedbush expects Elon Musk to make a comeback

(CercleFinance.com) - On Tuesday Wedbush Securities renewed its "outperform" rating on Tesla shares, with a $550 target price, while warning that the electric vehicle manufacturer had reached a "moment of truth".


In a morning report, the US broker expressed concern that Elon Musk was now spending more time at the White House or Mar-a-Lago than at Tesla's factories.

It warns that if the billionaire were to continue to devote most of his time to the Department of Government Efficiency (DOGE) to the detriment of Tesla, the damage caused by his political choices could prove even more damaging.

At present, only 5% of current Tesla owners would hesitate to buy a Tesla again because of Musk's stance, it points out, a figure he considers to be limited for the time being.

In his view, however, Tesla and Musk are now facing a real moment of truth.

We've found ourselves in the same kind of situation many times over the last ten years, Wedbush Securities says. And Musk has always reacted in the interests of his shareholders.


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